BMO Capital Markets Trims Schrödinger (NASDAQ:SDGR) Target Price to $25.00

Schrödinger (NASDAQ:SDGR) had its target price trimmed by BMO Capital Markets from $30.00 to $25.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also recently weighed in on SDGR. KeyCorp lowered their price target on shares of Schrödinger from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Leerink Partners started coverage on shares of Schrödinger in a research note on Tuesday, July 2nd. They issued an “outperform” rating and a $29.00 target price for the company. Morgan Stanley reduced their price target on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 21st. Finally, Leerink Partnrs raised Schrödinger to a “strong-buy” rating in a research report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Schrödinger presently has an average rating of “Moderate Buy” and a consensus price target of $32.60.

Schrödinger Stock Up 1.2 %

Shares of NASDAQ:SDGR opened at $17.80 on Thursday. The firm has a 50 day moving average of $19.31 and a 200 day moving average of $21.26. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -6.64 and a beta of 1.50. Schrödinger has a 52 week low of $16.67 and a 52 week high of $38.00.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.11. The firm had revenue of $47.33 million during the quarter, compared to analyst estimates of $40.19 million. Schrödinger had a negative return on equity of 38.38% and a negative net margin of 100.42%. On average, sell-side analysts expect that Schrödinger will post -2.19 EPS for the current year.

Insider Activity at Schrödinger

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the sale, the insider now owns 13,469 shares in the company, valued at approximately $239,478.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is owned by insiders.

Institutional Trading of Schrödinger

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rubric Capital Management LP raised its holdings in shares of Schrödinger by 213.5% during the second quarter. Rubric Capital Management LP now owns 3,130,000 shares of the company’s stock worth $60,534,000 after purchasing an additional 2,131,724 shares during the last quarter. Millennium Management LLC grew its position in Schrödinger by 2,868.8% during the 2nd quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock worth $9,435,000 after purchasing an additional 471,399 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Schrödinger by 53.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,228,123 shares of the company’s stock valued at $23,752,000 after buying an additional 427,594 shares during the last quarter. Iron Triangle Partners LP lifted its holdings in shares of Schrödinger by 84.2% in the 1st quarter. Iron Triangle Partners LP now owns 863,323 shares of the company’s stock valued at $23,310,000 after buying an additional 394,738 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its stake in shares of Schrödinger by 35.5% in the first quarter. Tocqueville Asset Management L.P. now owns 899,750 shares of the company’s stock worth $24,293,000 after buying an additional 235,785 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

About Schrödinger

Schrödinger, Inc, together with its subsidiaries, develops physics-based computational platform that enables discovery of novel molecules for drug development and materials applications. The company operates in two segments, Software and Drug Discovery. The Software segment is focused on licensing its software to transform molecular discovery for life sciences and materials science industries.